August 19, 2015
Hispanic mortgage applicants were denied loans at twice the rate of non-Hispanic white applicants in 2013 (22% vs. 11% denial rates), and in the same year, Latinos accounted for only 7.3% of purchase mortgages, even though they make up 17% of the US population, according to the report. (The report uses Hispanic and Latino interchangeably.)
In the report, that disparity is largely attributed to the use of conventional credit scoring models and the lack of affordable home options. Despite these obstacles, Hispanics represent half of the US homeownership growth since 2010, with 614,000 more Hispanics becoming homeowners in that time.
While Hispanics remain poised to drive homeownership...